Fibo Quantum Indicator Review – What A Real User Thinks
Fibo Quantum is a Forex trading strategy that is based on the Fibonacci sequence of numbers although it doesn’t use retracements in the way most traders are used to.
This review features the real trading software on my Metatrader charts so you know this review is not a scam.
First thing you should know is that if you are a person who buys trading strategy software, returns it, and keeps using it, with Fibo Quantum, you can’t do that. You must register the product with your Forex account number along with your purchase code.
If you return it, you will no longer have access to it.
Fibo Quantum Review Video
You can watch the video below where I walk through the purchase of the software along with applying it to my charts.
I then cover a handful of currency pairs using Fibo Quantum so you can get a good feel for the strategy. Click here to purchase Fibo Quantum and review it for yourself.
I think the video review covers a lot of information about Fibo Quantum and traders who love Fibonacci, will enjoy the software.
Time Frames and Forex Pairs To Trade
Only a few Forex pairs are worth trading and Fibo Quantum suggests the following pairs:
Those are enough currency pairs to trade and with the combination of the GBP and Yen, you can get a lot of movements in pips which is what we want.
As for time frames, consider that with Fibo Quantum, you can day trade, swing trade, and position trade just by changing the time frame used. The suggested time frames are:
- 15 minute
- 30 minute
- one hour
- four hour
- daily chart
My preferred time frames for trading are in bold but understand that you will get less trading setups on higher time frame charts.
Choose Your Trading Style
Fibo Quantum allows you to choose what type of trader you are and the software will change the inputs to suit your trading needs. The selections are:
- Conservative – Concentrates on optimal ratio between all signal levels.
- Medium – Combination of conservative and aggressive styles.
- Aggressive – Concentrates on extreme ratio between all signal levels.
- Custom – Allows you to take full control of the levels and manually configure them to match your preferences.
The suggestion from Karl Dittmann, the developer, is to use the conservative approach and I agree with that. Traders are too eager to trade and often times trade too often and at the wrong times. The conservative trading setting gives only the higher probability trading setups and you should consider using the conservative setting.
Times To Trade Fibo Quantum
Forex is a 24 hour market but there is only a handful of hours that are worth your time. In the training for Fibo Quantum, the following is suggested:
Do not use the indicator on a weak/slow market – outside recommended trading hours (London or US sessions). Signals never work well on a weak market; this has been proven many times and the best time for profits are the following:
- The London session is the largest market and it opens at 08:00 GMT or 03:00 EST and closes at 17:00 GMT or 12:00 EST.
- Trading is best between 08:00 GMT and 10:00 GMT
- The New York session opens at 13:00 GMT or 08:00 EST and closes at 22:00 GMT or 17:00 EST.
- The best trades occur in the first 2-3 hours.
Fibo Quantum So Far?
We’ve looked at a few parts of the software and the fact that only a handful of Forex pairs (that move well) and the times to trade it (when the market is moving) is a good sign. This gives traders a chance to profit from currency pairs that are known to move combined with the times that Forex moves well.
Dittmann suggests using the conservative approach and frankly, I can’t argue with that. Traders that tend to trade too much will be forced to trade less and potentially with the higher probability set ups.
How Does Fibo Quantum Work?
As with all trading software, the inner workings are never shown but as the Forex market moves up and down, Fibonacci buy and sell levels are plotted. Keeping in mind the global trend, you will enter a buy setup when price reaches the level and setup your stop at the indicated level.
From there, you are given 3 profit targets and it is up to you to determine which one to use. From your testing, you may find that using the targets as trade management levels and letting profits run is a good play.
Let’s be clear, unlike typical Fibonacci retracements, you do not trade the pullback. Looking at the first sell, that sell entry was setup before price reached it meaning that you trade with the momentum going in your favor. This means you are not catching a falling knife!
- Wait for a setup to plot right on your chart
- Place an order to enter and place your stop at the designated price level
- Let price go to your profit targets
It’s pretty straightforward but I do suggest you have rules on how you will mange your trades. You don’t want to aim for the third take profit level and have price bounce back from one of the other levels to a stop out. Learn how to manage your positions.
6 Important Fibo Quantum Trading Rules
Every trading strategy must have rules that you consistently abide by if you ever hope to profit from it. All successful traders in history have followed a trading plan and if you are a real trader, you will understand how important that is.
- Do not use the indicator on a flat market! Use the indicator ONLY during active market hours – for example London session, US session. Trend will not be noticeable on a weak market (night time, Christmas period, other holidays etc…)
- Identify a global trend. Ignore all signals against a current GLOBAL trend! Do not use the indicator on a sideways trend.
- Before entering a trade or while in a trade, make sure to check news calendar like this one: http://ec.forexprostools.com If you get a signal from “Fibo Quantum” and the calendar shows that important news announcement is about to come or just happened already – better avoid that signal. Big news can make the market go against you in no time.
- Avoid opening a new trade, until the previous trade (on the same currency pair) has been closed. Ignoring this rule would break one of very important money management rules.
- Enter trades only when the price reaches Buy Entry or Sell Entry level within the generated signal level lines. IMPORTANT: Avoid entering trades after the price goes past the generated signal level lines.
- Avoid entering more than one trade per one set of generated signal level lines. You can only enter when the price reaches Buy or Sell Entry level for the 1st time. If price reaches any of the Entry levels again (within the same set of levels) – no trade.
Money Management Rules For Fibo Quantum
- Never risk more than 1-3% of your deposit on any single trade.
- Never gain or lose more than 10% of your deposit in any single day.
- Never use Martingale Strategy
Buy Fibo Quantum
That wraps up the review of Fibo Quantum and I must add that I think it is a decent strategy for Forex traders. The key is to follow the rules I mentioned above and do it consistently. Remember that Fibonacci levels are used by many Forex traders and even some well known traders have commented that they use them.
Some may say that Fibo Quantum is a scam but in truth, there is nothing about it that is a scam. It does what it says it will do and it is up to you to follow sound trading principles.